Major coup for Heritage as heavyweight banking executive joins Board

30 April 2020

Heritage Bank has today added significant banking experience to its Board by appointing high-profile finance executive Peter Clare.

Heritage Bank Chairman Kerry Betros made the announcement ahead of today’s monthly Heritage Board meeting, being held this month via video conference.

Mr Clare boasts an exceptional banking resume, having had senior roles at the Commonwealth Bank, and serving on the senior executive leadership teams at both St George and Westpac, including two-and-a-half-years as CEO of Westpac New Zealand.

In recent years, he has served on a variety of boards in the technology and finance industries in Australia.

Mr Betros said the appointment was a coup for Heritage and added unrivalled expertise to the Board.

“Peter has an extremely impressive banking background and his knowledge would be welcomed on the Board of any financial institution around the country,” Mr Betros said.

“Peter’s deep understanding of banking, coupled with his experience in the technology industry, will be invaluable to Heritage as we continue our digital transformation process.

“We’re delighted that Peter has chosen to join us as a Director. We welcome him to Heritage and we look forward to leveraging his deep knowledge of the sector to help us maintain our success.”

Mr Clare said he was impressed with how Heritage had grown to become Australia’s largest customer-owned bank from its base in Toowoomba. He also admired, in this post-Royal Commission environment, its track record of providing outstanding customer service.

That was evidenced by Heritage being rated the most authentic bank in Australia earlier this year by international analysts J.D Power.

“I’m excited to have the opportunity to work with the Heritage team,” Mr Clare said. 

“I believe I’ve got something to add. I like the brand, the brand positioning and the culture of the customer-owned bank proposition.”

Mr Clare, who is based in Sydney, joins the Heritage Board effective from today (30 April).

His appointment follows the resignation of long-serving Director Vivienne Quinn, who stepped down at today’s meeting after 25 years on the Heritage Board.

Peter Clare